Abstract: A method and system for aerially transporting loads between a loading site and a discharging site. A lift balloon is ballasted with liquid ballast at a discharging site and propelled to a loading site, where a load is suspended from the balloon. The liquid ballast is removed from the balloon in an amount corresponding to the weight of the suspended load. The ballast is recirculated from the loading site to the discharging site through a conduit. At the discharging site, the balloon is reballasted and the load is removed therefrom. The liquid ballast may also be moved through an aerial conduit connecting the lift balloon to a ballast site. In a further aspect of the invention, an elongated envelope houses a plurality of pear-shaped balloons to reduce the aerodynamic drag thereon.